Rising interest rates and trade tensions between the US and China will begin to weigh on the US consumer in 2019.While 2018 has been a strong year for household consumption in the US, supported by low unemployment, fiscal stimulusand buoyant consumer confidence levels, we expect the positive growth story to begin to fade in 2019 as borrowing costs andinflation head higher. We forecast private consumption to rise by 2.2% in 2019, down from an estimated 3.0% in 2018.

Key View

Consumer Outlook

SWOT

Consumer & Retail SWOT

Industry Forecast

Consumer Spending

Household Characteristics

Consumer Demographics

Market Overview

Retail Trends

Consumer & Retail Glossary

Consumer & Retail Methodology

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